**REGISTERED CHARITY NUMBER: 292027** ## **REPORT OF THE TRUSTEES AND** **AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2024** ## **FOR** ## **THE BOWLAND CHARITABLE TRUST** Ainsworths Limited Chartered Accountants and Statutory Auditors Charter House Stansfield Street Nelson Lancashire BB9 9XY **THE BOWLAND CHARITABLE TRUST** ## **CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2024** |||**Page**|| |---|---|---|---| |**Reference and Administrative Details**||1|| |**Report of the Trustees**|2|to|4| |**Report of the Independent Auditors**|5|to|7| |**Statement of Financial Activities**||8|| |**Balance Sheet**||9|| |**Notes to the Financial Statements**|10|to|16| **THE BOWLAND CHARITABLE TRUST** **REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31ST DECEMBER 2024** |**TRUSTEES**|H A Cann| |---|---| ||Ms C Fahy| ||H D Turner| |**PRINCIPAL ADDRESS**|Bowland House| ||Philips Road| ||Blackburn| ||Lancashire| ||BB1 5NA| |**REGISTERED CHARITY**|292027| |**NUMBER**|| |**INDEPENDENT AUDITORS**|Ainsworths Limited| ||Chartered Accountants| ||and Statutory Auditors| ||Charter House| ||Stansfield Street| ||Nelson| ||Lancashire| ||BB9 9XY| |**BANKERS**|Lloyds Bank| ||Church Street| ||BLACKBURN| ||Lancashire| ||BB2 1JQ| |**INVESTMENT ADVISERS**|Redmayne Bentley| ||8 Victoria Avenue| ||Harrogate| ||North Yorkshire| ||HG1 1ED| Page 1 **THE BOWLAND CHARITABLE TRUST** **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2024** The trustees present their report with the financial statements of the charity for the year ended 31st December 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019). ## **OBJECTIVES AND ACTIVITIES** ## **Objectives and activities** The objectives of the charity are to support individuals, charities and other charitable organisations, as detailed by the trust deed, in the advancement of education, particularly for the benefit of young people, by way of making grants and gifting educational equipment. In setting the objectives of the charity, the trustees have considered the guidance issued by the Charity Commission on delivering public benefit. The trustees feel this is achieved through their support of outdoor and character building activities for young people, the advancement of educational, religious and cultural aims and purposes and through research into the operation of the criminal justice system in particular as it relates to young offenders. As at the date of this report the cumulative total of donations made and expenditure on charitable projects by the Trust exceeds £40 million. ## **Grantmaking policy** The charity invites applications for funding of projects from individuals, charities and other charitable organisations in particular for the promotion of education. The applications are made directly to the trustees, who meet regularly to assess the applications. The trustees then approve or reject the grants. Projects may be funded over varying periods of time, but the majority are made as one off payments. The trustees also occasionally make grants to other appeals and charities. ## **FINANCIAL REVIEW** ## **Financial review** Income decreased from the previous year to £83,632 (2023: £324,100). The reason for the fall is due to lower donations received, though investment income has seen a slight increase. Expenditure decreased from £627,466 to £595,719, due to fewer grants awarded. As last year, the charity recorded net expenditure as it continues to utilise the accumulated funds that it holds for the charitable purposes that it was established to benefit. The funds of the charity were £2,613,625 at the end of the financial year, down from £3,147,471 at the end of the previous year due to the net expenditure in the year. ## **Principal funding sources** The principal funding sources are donations (mostly from the trustee, H A Cann, and related family trusts) and investment income on funds held from previous donations, not yet utilised for charitable proposes. ## **Investment policy and objectives** To the extent that the charity's funds have not been used to award grants, they have been held on deposit, invested in shares or other securities to generate a higher return than would otherwise be available on deposit. Interest and dividends totalling £61,652 (2023: £60,767) have been earned by the charity in this reporting period. Page 2 **THE BOWLAND CHARITABLE TRUST** ## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2024** ## **FINANCIAL REVIEW** ## **Reserves policy** The Trust was established with several large donations from the Cann family. The purpose of these donations was to provide capital from which grants could be made for a number of years to come. At 31st December 2024 the Charity's total funds carried forward stood at £2,613,625 (2023: £3,147,471). Of this amount, 97% were held as designated funds in respect of intentions made to award grants that have been communicated to beneficiaries. At 31st December 2024 free reserves carried forward were at £nil (2023: £nil). This is due to net expenditure in the year and investments in fixed assets both reducing general funds. The trustees are free to transfer funds from designated funds to the general fund if desired, and the charity has minimal commitments, therefore the lack of free reserves is not a concern for the charity. Indeed, the value of liquid cash holdings and investments at the year end were more than £1.9m. ## **FUTURE PLANS** The Charity will continue to support individuals, charities and other charitable organisations in the furtherance of its objects of supporting education particularly for the benefit of young people. ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** ## **Governing document** The Bowland Charitable Trust ("the charity") was established on 26th February 1985 and is registered with the Charity Commissioners (registration number 292027). The charity is governed by a trust deed dated 26th February 1985. ## **Recruitment and appointment of new trustees** Trustees are appointed to reflect the skills required to support the charity and its range of activities. The trustees themselves appoint new trustees to the Board and provide appointees with a full orientation of the services provided, the decision-making process of the Trust and the roles and responsibilities of a trustee, including their legal obligations under applicable laws. ## **Organisational structure** The trustees who have served during the year and since the year end are set out on page one. Grant applications are made directly to the trustees, who meet regularly to assess the applications. The trustees then approve or reject the grants. The charity has no full time employees, but an employee of a related company is involved in occasional assistance with the administration of the charity. The trustees take care of the day to day running and legal requirements of the charity. ## **Risk management policy** The Trustees review the major risks faced by the charity during their regular meetings and confirm there are systems in place to mitigate them. Internal risks are minimised by segregation of duties and procedures for authorisation of all transactions. ## **STATEMENT OF TRUSTEES' RESPONSIBILITIES** The trustees are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Page 3 THE BOWLAND CHARITABLE TRUST REPORT OF THE TRUSTEES FOR THE YEAR EliDED31ST DECEMBER 2024 STATEMENT OF TRUSTEES, RESPONSIBILITIES- continued Charity law requi￿$ the trustees to prepare financial sthtements for each financial year. Under that law. the tnjstees have elected 10 prepare ihe financial statements in accordanre with United Kingdorn Generally Accepted Accounting Practice (United Kingdom Aecounting Stsndards and applicable law}. Under charity law the trustees must noi approve the financial statements unless Ihey are satisfied ihat ihey give a true and fair view of Ihe stale of affairs of the charity and of the incoming resouTttS and application of resources, includtng th¢ inwm¢ and expenditure, ofthe charity for that period. In preparing those financial statements. the Intstees are required seleci suitsble accounting ￿licIeS and ihen apply them ¢onsisienily; obseTve the methods and principles in the Charities SORP,. make judg¢menis and estimat¢s that are reasonable and prudent., prepare the financial statements on the going con¢em basis unless it is inappTopriate ￿ presume that the chority will continue in busine5S. The trusiees ￿ resFKJn5ible for keeping proper aceouniing re¢ords which disc105e with reasonable accurdcy al any time the financial ￿)SItIOn of the charity and io enable th¢rn lo ensure that the financial siaiemenis comply with the Charitie5 Act 2011 The Charity IA¢¢ounis and Report51 Regulations 2008. They a￿ also responsible for safeguarding the asseis of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and oiher irrrgularitie5. Approv¢d by ￿der ofthe IM)ard of trustees on 22nd October 2025 and St¥￿ed on ils behaifby.. H A Cant)- TnJsie¢ Page 4 **REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF THE BOWLAND CHARITABLE TRUST** ## **Opinion** We have audited the financial statements of The Bowland Charitable Trust (the 'charity') for the year ended 31st December 2024 which comprise the Statement of Financial Activities, the Balance Sheet and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements: - give a true and fair view of the state of the charity's affairs as at 31st December 2024 and of its incoming resources and application of resources, for the year then ended; - have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and - have been prepared in accordance with the requirements of the Charities Act 2011. ## **Basis for opinion** We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. ## **Conclusions relating to going concern** In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report. ## **Other information** The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. ## **Matters on which we are required to report by exception** We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion: - the information given in the Report of the Trustees is inconsistent in any material respect with the financial statements; or - sufficient accounting records have not been kept; or - the financial statements are not in agreement with the accounting records and returns; or - we have not received all the information and explanations we require for our audit. Page 5 **REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF THE BOWLAND CHARITABLE TRUST** ## **Responsibilities of trustees** As explained more fully in the Statement of Trustees' Responsibilities, the trustees are responsible for the preparation of the financial statements which give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so. ## **Our responsibilities for the audit of the financial statements** We have been appointed as auditors under Section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder. Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: Based on our understanding of the Charity and the nature of the sector in which it operates, we have identified that the principal risks of non-compliance with laws and regulations related to, but were not limited to, the Charities Act 2011 and tax legislation. We have evaluated management's incentives and opportunities for fraudulent manipulation of the financial statements (including the override of controls) and determined that the principal risks were related to management bias in accounting estimates and judgements. Our audit procedures designed to address these risks included, but were not limited to: - Enquiries with management, regarding any known or suspected instances of non-compliance with laws and regulations and fraud; - Agreement of the financial statements disclosures to the underlying supporting documentation; - Performing analytical procedures to identify any unusual or unexpected relationships that may indicate risk of material misstatement due to fraud; - Challenging assumptions and judgements made by management in their significant accounting estimates; - Obtaining an understanding of provisions and holding discussions with management to understand the basis of recognition or non-recognition of tax provisions; - Obtaining an understanding of internal controls relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the internal controls. Our audit procedures were designed to respond to risks of material misstatement in the financial statements, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve concealment by misrepresentations or through collusion. There are inherent limitations in the audit procedures performed and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we are to become aware of it. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors. Ainsworths Limited is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006. Page 6 R￿PORT OF THE INDEPLNDENf AL￿rrORST0 THE TRusfELS OF THE BOWLAND CHAIUTABLE TRLST Use of our report This rq)ort is solely to the charitys tn]stef4 as a Immly. in accordan(% with Part 4 of tlLe tharities {Ae¢ounts and Report8) Regulations 2008. Our audit w￿k lias been undertaken we njigbt state to the chartty's trustees th.ose maiters w¢ are required to state to tbem ID aD 2udiLorg rq)0rt 8nd for no other purFK)se. To the fL]llest extent pellDitted by law, wc do not ￿Cept or aSSu￿e rthpO￿ib)Iity to anyone otlLer than the charity the charity's ttuste¢s as a body, for our auth"t work forthis rew¢ OT for the opinions webave fomie J£K)oQwr LIMI￿3 Ainswortbs Limited Chartered A￿0￿￿tants and Statsiory Auditors Charter House Sl¥msfield Stree4 Nclson Lalleashire BB9 9XY 22nd0¢t0￿2025 **THE BOWLAND CHARITABLE TRUST** ## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST DECEMBER 2024** |Notes
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
Investment income
2
**Total**
**EXPENDITURE ON**
**Charitable activities**
Advancement of education
Religious activities
Recreational activities
Cultural activities
Support for activities of young people
Other charitable expenditure
Other
**Total**
Net gains/(losses) on investments
**NET INCOME/(EXPENDITURE)**
**RECONCILIATION OF FUNDS**
Total funds brought forward
**TOTAL FUNDS CARRIED FORWARD**
**CONTINUING OPERATIONS**|**31.12.24**
**Unrestricted**
**funds**
**£**
**21,980**
**61,652**
**83,632**
**238,109**
**91,431**
**31,000**
**16,719**
**26,250**
**103,855**
**88,355**
**595,719**
**(21,759)**
**(533,846)**
**3,147,471**
**2,613,625**|31.12.23
Total
funds
£
263,333
60,767
324,100
400,595
88,376
1,000
-
25,000
98,479
14,016
627,466
13,225
(290,141)
3,437,612
3,147,471| |---|---|---| All income and expenditure has arisen from continuing activities. The notes form part of these financial statements Page 8 THE BOWLAND CHARITABLE TRusr BALANCE SHEET 31ST DEcE￿]BER 2024 31.12.24 Unrestricted funds 31.12.23 Total funds Notes FIXED ASSETS Tangible asseis Invcsttnenls 303,109 IA81.067 309,309 1,971.664 .784.776 2.281.973 CURRENT ASSETS Stocks Debiors Cash at bank 322290 1,021 J33 50.400 331.3.13 1.388,410 1,788,149 1,770.143 CRF,DITORS Amounts fallirt¥ due within one year 19$9JOO) 1904,6451 NET CIIRRENT ASSETS 828049 865,498 TOTAL ASSETS LESS CURREThT LIABILITIES 2,613th25 3,147,471 NET ASSETS 2.613.62S 3,147,471 FUNDS Unre5tricled funds 10 2,613,625 3,147.471 TOTAL FUNDS 2ffi13,62S 3,147,471 The fjnancial sthternents were approved by ihe Bo¥d of Tru51ee5 and auihorised for issue on 22nd Octokr 2025 and wer¢ signed on its behalf by.. H A Cann- Trustce The notes form part of these financial staiements Pag¢ 9 **THE BOWLAND CHARITABLE TRUST** **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2024** ## **1. ACCOUNTING POLICIES** ## **Basis of preparing the financial statements** The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets. The Bowland Charitable Trust meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s). The charity has taken advantage of the following disclosure exemption in preparing these financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland': - the requirements of Section 7 Statement of Cash Flows. ## **Critical accounting judgements and key sources of estimation uncertainty** The preparation of the financial statements requires the trustees to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for income and expenditure during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. There are no judgements other than those involving estimation uncertainty. The following are the Group's key sources of estimation uncertainty: ## Depreciation Depreciation is provided based on the expected useful life of its tangible assets. The actual useful life of such assets may be shorter or longer than anticipated. If the useful life happens to be shorter than anticipated, the asset will be written off or disposed of as appropriate. ## Accruals Accruals are estimates of costs that were incurred up to the year end, the amounts of which were not know at the year end. Any variance between anticipated costs accrued in the accounts, and actual expenditure after the year end, will be recognised in the Statement of Financial Activities in the following accounting period. ## **Income recognition** Donations and other income are credited to the Statement of Financial Activities as they become due, gross of income tax where applicable. Assets which have been acquired below their market value are included in the accounts at their full value, with the difference recognised as voluntary income. Specific grants receivable are credited to the Statement of Financial Activities as they become due and are accounted for as restricted funds. Investment income is recognised as income in the Statement of Financial Activities on an accruals basis and represents interest receivable and dividends receivable on the Charity's investments that are held for an investment return. continued... Page 10 **THE BOWLAND CHARITABLE TRUST** **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST DECEMBER 2024** ## **1. ACCOUNTING POLICIES - continued** ## **Expenditure recognition** Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. Expenditure on charitable activities represents expenditure incurred in furtherance of the Charity's objects. The majority of the expenditure relates to grants payable. Grants payable are recognised as expenditure in the Statement of Financial Activities once the payment has been made to its intended recipient. ## **Tangible fixed assets** Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. Freehold property - 2% on cost Computer equipment - 20% on cost ## **Stocks** Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Stocks are held to be donated to educational establishments in furtherance of the charity's objects. ## **Taxation** The Charity is exempt from the liability to income tax on its charitable activities to the extent its income is used for charitable purposes. Any income not used for charitable purposes is subject to income tax at the appropriate rates. ## **Fund accounting** Unrestricted funds are funds which can be used in accordance with the charitable objects at the discretion of the Trustees. Designated funds are funds which the Trustees have set aside with the intention of making specific grant awards. The intended grant award is recognised within designated funds once a decision has been taken by the Trustees to make the award. However such decisions are not contractual nor binding and no obligation is created. The grant is removed from designated funds when either the payment is made to the recipient or the Trustees withdraw their intention to support that particular entity or individual. Restricted funds are funds that can only be applied for particular purposes as stipulated by the entity or individual that remitted those funds. ## **Foreign currencies** Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating results. ## **Basic financial instruments** Trade and other debtors are recognised initially at transaction price less attributable transaction costs. Trade and other creditors are recognised initially at transaction price plus attributable transaction costs. Subsequent to initial recognition they are measured at amortised cost using the effective interest method, less any impairment losses in the case of trade debtors. If the arrangement constitutes a financing transaction, for example if payment is deferred beyond normal business terms, then it is measured at the present value of future payments discounted at a market rate of instrument for a similar debt instrument. continued... Page 11 **THE BOWLAND CHARITABLE TRUST** **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST DECEMBER 2024** ## **1. ACCOUNTING POLICIES - continued** ## **Basic financial instruments** ## **Realised gains and losses** All gains and losses are taken to the Statement of Financial Activities as they arise. Realised gains and losses on investments are calculated as the difference between sales proceeds and their opening carrying value or their purchase value if acquired subsequent to the first day of the financial year. Unrealised gains and losses are calculated as the difference between the fair value at the year end and their carrying value. Realised and unrealised investment gains and losses are combined in the Statement of Financial Activities. ## **2. INVESTMENT INCOME** |**INVESTMENT INCOME**||| |---|---|---| ||**31.12.24**|31.12.23| ||**£**|£| |Interest receivable on cash at bank|**51,960**|50,059| |Dividends receivable on listed investments|**9,692**|10,708| ||**61,652**|60,767| ## **3. TRUSTEES' REMUNERATION AND BENEFITS** There were no trustees' remuneration or other benefits for the year ended 31st December 2024 nor for the year ended 31st December 2023. ## **Trustees' expenses** There were no trustees' expenses paid for the year ended 31st December 2024 nor for the year ended 31st December 2023. ## **4. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES** |**INCOME AND ENDOWMENTS FROM**
Donations and legacies
Investment income
**Total**
**EXPENDITURE ON**
**Charitable activities**
Advancement of education
Religious activities
Recreational activities
Support for activities of young people
Other charitable expenditure
Other
**Total**
Net gains on investments|Unrestricted
funds
£
263,333
60,767| |---|---| ||324,100| ||400,595
88,376
1,000
25,000
98,479
14,016| ||627,466| ||13,225| continued... Page 12 **THE BOWLAND CHARITABLE TRUST** **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST DECEMBER 2024** |**4.**
**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued**
**NET INCOME/(EXPENDITURE)**
**RECONCILIATION OF FUNDS**
Total funds brought forward
**TOTAL FUNDS CARRIED FORWARD**
**5.**
**TANGIBLE FIXED ASSETS**
Freehold
Computer
property
equipment
£
£
**COST**
At 1st January 2024 and
31st December 2024
**307,016**
**2,856**
**DEPRECIATION**
At 1st January 2024
**277**
**286**
Charge for year
**5,629**
**571**
At 31st December 2024
**5,906**
**857**
**NET BOOK VALUE**
At 31st December 2024
**301,110**
**1,999**
At 31st December 2023
306,739
2,570
**6.**
**FIXED ASSET INVESTMENTS**
**MARKET VALUE**
At 1st January 2024
Additions
Disposals
Revaluations
At 31st December 2024
**NET BOOK VALUE**
At 31st December 2024
At 31st December 2023
There were no investment assets outside the UK.|Unrestricted
funds
£
(290,141)
3,437,612
3,147,471
Totals
£
**309,872**
**563**
**6,200**
**6,763**
**303,109**
309,309
Listed
investments
£
**1,972,664**
**963,627**
**(1,472,806 )**
**18,182**
**1,481,667**
**1,481,667**
1,972,664| |---|---| continued... Page 13 **THE BOWLAND CHARITABLE TRUST** **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST DECEMBER 2024** ## **6. FIXED ASSET INVESTMENTS - continued** Cost or valuation at 31st December 2024 is represented by: |||||||**Listed**| |---|---|---|---|---|---|---| |||||||**investments**| |||||||**£**| ||Valuation in 2024|||||**1,481,667**| ||Fixed asset investments were valued on an open market basis on 31st||December 2024 by the trustees.|||| |**7.**|**STOCKS**|||||| ||||||**31.12.24**|31.12.23| ||||||**£**|£| ||Stocks||||**322,290**|50,400| |**8.**|**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**|||||| ||||||**31.12.24**|31.12.23| ||||||**£**|£| ||Amounts due from associated|||||| ||undertakings||||**1,021,333**|331,333| |**9.**|**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**|||||| ||||||**31.12.24**|31.12.23| ||||||**£**|£| ||Trade creditors||||**38,000**|-| ||Taxation and social security||||**113,080**|82,665| ||Other creditors||||**808,220**|821,980| ||||||**959,300**|904,645| |**10.**|**MOVEMENT IN FUNDS**|||||| ||||Net||Transfers|| ||||movement||between|At| |||At 1.1.24|in funds||funds|31.12.24| |||£|£||£|£| ||**Unrestricted funds**|||||| ||General fund|**165,382**|**(379,152)**||**285,022**|**71,252**| ||Designated fund|**2,981,989**|**(154,694)**||**(285,022)**|**2,542,273**| ||Capital|**100**||**-**|**-**|**100**| |||**3,147,471**|**(533,846)**||**-**|**2,613,625**| ||**TOTAL FUNDS**|**3,147,471**|**(533,846)**||**-**|**2,613,625**| continued... Page 14 **THE BOWLAND CHARITABLE TRUST** **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST DECEMBER 2024** ## **10. MOVEMENT IN FUNDS - continued** Net movement in funds, included in the above are as follows: |**Unrestricted funds**
General fund
Designated fund
**TOTAL FUNDS**|Incoming
resources
£
**83,632**
**-**
**83,632**
**83,632**|Resources
expended
£
**(441,025)**
**(154,694)**
**(595,719)**
**(595,719)**|Gains and
Movement
losses
in funds
£
£
**(21,759)**
**(379,152)**
**-**
**(154,694)**
**(21,759)**
**(533,846)**
**(21,759)**
**(533,846)**|Gains and
Movement
losses
in funds
£
£
**(21,759)**
**(379,152)**
**-**
**(154,694)**
**(21,759)**
**(533,846)**
**(21,759)**
**(533,846)**| |---|---|---|---|---| |||||**(533,846)**| |||||**(533,846)**| ## **Comparatives for movement in funds** |**Unrestricted funds**
General fund
Designated fund
Capital
**TOTAL FUNDS**|At 1.1.23
£
378,439
3,059,073
100
3,437,612
3,437,612|Net
movement
in funds
£
(208,132)
(82,009)
-
(290,141)
(290,141)|Transfers
between
funds
£
(4,925)
4,925
-
-
-|At
31.12.23
£
165,382
2,981,989
100| |---|---|---|---|---| |||||3,147,471| |||||3,147,471| Comparative net movement in funds, included in the above are as follows: |**Unrestricted funds**
General fund
Designated fund
**TOTAL FUNDS**|Incoming
resources
£
324,100
-
324,100
324,100|Resources
expended
£
(545,457)
(82,009)
(627,466)
(627,466)|Gains and
Movement
losses
in funds
£
£
13,225
(208,132)
-
(82,009)
13,225
(290,141)
13,225
(290,141)|Gains and
Movement
losses
in funds
£
£
13,225
(208,132)
-
(82,009)
13,225
(290,141)
13,225
(290,141)| |---|---|---|---|---| |||||(290,141)| |||||(290,141)| Designated funds represent funds set aside from the unrestricted fund in relation to which the trustees have given an indication to the prospective donees of their intention to provide the funds over a period of time. Unrestricted funds represent surplus donations and other incoming resources receivable in excess of grants and other outgoing resources payable and available for use by the trustees in accordance with the charitable objects. The unrestricted capital fund was established by an initial cash deposit made when the charity was set up. Page 15 continued... **THE BOWLAND CHARITABLE TRUST** **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST DECEMBER 2024** ## **11. RELATED PARTY DISCLOSURES** a. During the year, the charity made interest free loans totalling £690,000 to an associated undertaking, Learning By Questions Limited. The company has objects that align with those of the charity. The trustees, H A Cann and Ms C Fahy are also directors of this company. At 31st December 2024, an amount of £1,021,333 (2023: £331,333) was owed by this related party to the charity. The trustee, H A Cann, has personally guaranteed this debtor so that the charity will not suffer a loss if the company is unable to repay the balance owed. b. During the year, Whitebirk Finance Limited a company in which the trustee H A Cann is the director, recharged costs of £24,000 (2023: £24,360) for the cost of the charity's administration. At 31st December 2024, the amount owed to this related party was £38,000 (2023: £nil). c. During the year an interest free and unsecured loan subsisted between the charity and the H.A. Cann Grandchildren's Trust, a trust which has mutual trustees with the charity. At 31st December 2024 this related party was owed £300,000 (2023: £300,000) by the charity. d. During the year an interest free and unsecured loan subsisted between the charity and the H.A. Cann Settlement Accumulation & Maintenance Fund, a trust which has mutual trustees with the charity. At 31st December 2024, this related party was owed £445,000 (2023: £445,000) by the charity. e. During the year an interest free and unsecured loan subsisted between the charity and the Rushton No. 4 Trust, a trust which has mutual trustees with the charity. At 31st December 2024, this related party was owed £50,000 (2023: £50,000) by the charity. Page 16